10-Q Filing

SYNTEC OPTICS HOLDINGS, INC. CIK: 1866816 Q3 2022

Filing Information

Form Type	10-Q
Accession Number	`0001493152-22-029532`
Period End Date	20220930
Filing Date	20221025
Fiscal Year	2022
Fiscal Period	Q3
XBRL Instance	form10-q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 52 Income Statement 21 Cash Flow Statement 42 Stockholders Equity 22

Balance Sheet 52 line items

Line Item	Tag	Value	Unit	Period
Temporary equity possible redemption per share	`TemporaryEquityPossibleRedemption`	14.70M	shares	Point-in-time
Temporary equity possible redemption per share	`TemporaryEquityPossibleRedemption`	14.70M	shares	Point-in-time
Temporary equity possible redemption per share value	`TemporaryEquityRedemptionPricePerShare`	$10.20	USD	Point-in-time
Temporary equity possible redemption per share value	`TemporaryEquityRedemptionPricePerShare`	$10.20	USD	Point-in-time
Cash on hand	`CashAndCashEquivalentsAtCarryingValue`	$494.60K	USD	Point-in-time
Cash on hand	`CashAndCashEquivalentsAtCarryingValue`	$190.01K	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$174.31K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$171.91K	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Total current assets	`AssetsCurrent`	$666.51K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$364.32K	USD	Point-in-time
Long-term prepaid expenses	`PrepaidExpenseNoncurrent`	$135.04K	USD	Point-in-time
Long-term prepaid expenses	`PrepaidExpenseNoncurrent`	$16.67K	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Marketable securities and cash held in Trust Account	`MarketableSecuritiesNoncurrent`	$146.63M	USD	Point-in-time
Marketable securities and cash held in Trust Account	`MarketableSecuritiesNoncurrent`	$147.31M	USD	Point-in-time
Total assets	`Assets`	$147.43M	USD	Point-in-time
Total assets	`Assets`	$147.69M	USD	Point-in-time
Accounts payable and accrued offering cost	`AccountsPayableCurrent`	$204.09K	USD	Point-in-time
Accounts payable and accrued offering cost	`AccountsPayableCurrent`	$82.70K	USD	Point-in-time
Income tax liability	`IncomeTaxLiability`	$154.77K	USD	Point-in-time
Income tax liability	`IncomeTaxLiability`	-	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$237.47K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$204.09K	USD	Point-in-time
Deferred underwriters discount	`DeferredUnderwritersDiscount`	$5.03M	USD	Point-in-time
Deferred underwriters discount	`DeferredUnderwritersDiscount`	$5.03M	USD	Point-in-time
Total liabilities	`Liabilities`	$5.27M	USD	Point-in-time
Total liabilities	`Liabilities`	$5.24M	USD	Point-in-time
Commitments and contingencies (Note 6)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock subject to possible redemption, 14,698,144 shares at redemption value of $10.20	`TemporaryEquityCarryingAmountAttributableToParent`	$146.62M	USD	Point-in-time
Common stock subject to possible redemption, 14,698,144 shares at redemption value of $10.20	`TemporaryEquityCarryingAmountAttributableToParent`	$146.98M	USD	Point-in-time
Preferred stock, $0.0001 par value; 1,000,000 shares authorized; none issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.0001 par value; 1,000,000 shares authorized; none issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	-	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	-	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-4.56M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-4.43M	USD	Point-in-time
Total stockholders deficit	`StockholdersEquity`	$-4.56M	USD	Point-in-time
Total stockholders deficit	`StockholdersEquity`	-	USD	Point-in-time
Total stockholders deficit	`StockholdersEquity`	$25.00K	USD	Point-in-time
Total stockholders deficit	`StockholdersEquity`	$-4.43M	USD	Point-in-time
Total stockholders deficit	`StockholdersEquity`	$-4.54M	USD	Point-in-time
Total stockholders deficit	`StockholdersEquity`	$25.00K	USD	Point-in-time
Total stockholders deficit	`StockholdersEquity`	$-4.60M	USD	Point-in-time
Total liabilities and stockholders deficit	`LiabilitiesAndStockholdersEquity`	$147.43M	USD	Point-in-time
Total liabilities and stockholders deficit	`LiabilitiesAndStockholdersEquity`	$147.69M	USD	Point-in-time

Income Statement 21 line items

Line Item	Tag	Value	Unit	Period
Operating costs	`OperatingExpenses`	$176.93K	USD	1 Quarter
Operating costs	`OperatingExpenses`	$498.09K	USD	3 Qtrs
Operating costs	`OperatingExpenses`	-	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-498.09K	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	-	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-176.93K	USD	1 Quarter
Interest earned on investment held in Trust Account	`InterestEarnedOnInvestmentHeldInTrustAccount`	$882.41K	USD	3 Qtrs
Interest earned on investment held in Trust Account	`InterestEarnedOnInvestmentHeldInTrustAccount`	$662.21K	USD	1 Quarter
Interest earned on investment held in Trust Account	`InterestEarnedOnInvestmentHeldInTrustAccount`	-	USD	1 Quarter
Total income before income tax	`IncomeLossIncludingPortionAttributableToNoncontrollingInterest`	$485.28K	USD	1 Quarter
Total income before income tax	`IncomeLossIncludingPortionAttributableToNoncontrollingInterest`	$384.31K	USD	3 Qtrs
Total income before income tax	`IncomeLossIncludingPortionAttributableToNoncontrollingInterest`	-	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$148.39K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$154.77K	USD	3 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Net income	`NetIncomeLoss`	$229.54K	USD	3 Qtrs
Net income	`NetIncomeLoss`	$-171.92K	USD	1 Quarter
Net income	`NetIncomeLoss`	$64.57K	USD	1 Quarter
Net income	`NetIncomeLoss`	$336.89K	USD	1 Quarter
Net income	`NetIncomeLoss`	-	USD	1 Quarter
Net income	`NetIncomeLoss`	-	USD	Point-in-time

Cash Flow Statement 42 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$229.54K	USD	3 Qtrs
Net income	`NetIncomeLoss`	$-171.92K	USD	1 Quarter
Net income	`NetIncomeLoss`	$64.57K	USD	1 Quarter
Net income	`NetIncomeLoss`	$336.89K	USD	1 Quarter
Net income	`NetIncomeLoss`	-	USD	1 Quarter
Net income	`NetIncomeLoss`	-	USD	Point-in-time
Interest earned on investment held in Trust Account	`InvestmentIncomeInterest`	$882.41K	USD	3 Qtrs
Interest earned on investment held in Trust Account	`InvestmentIncomeInterest`	-	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-115.97K	USD	3 Qtrs
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	-	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-54.96K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	-	USD	1 Quarter
Income tax expense	`IncreaseDecreaseInIncomeTaxes`	$154.77K	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-437.08K	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	-	USD	1 Quarter
Proceeds from Issuance of Class B common stock to Sponsor	`ProceedsFromIssuanceOfCommonStock`	$25.00K	USD	1 Quarter
Proceeds from Issuance of Class B common stock to Sponsor	`ProceedsFromIssuanceOfCommonStock`	-	USD	3 Qtrs
Proceeds from notes-payable to related party	`ProceedsFromRelatedPartyDebt`	$300.00K	USD	1 Quarter
Proceeds from advances from related party	`ProceedsFromAdvancesFromRelatedParty`	$364.00K	USD	1 Quarter
Payments of deferred offering costs associated with initial public offering	`PaymentsForRepurchaseOfInitialPublicOffering`	$160.09K	USD	1 Quarter
Payment of offering costs	`PaymentsOfStockIssuanceCosts`	-	USD	1 Quarter
Payment of offering costs	`PaymentsOfStockIssuanceCosts`	$66.44K	USD	3 Qtrs
Funds Transfer from Trust Account to Cash for DE Tax Reimbursement	`FundsTranferFromTrust`	-	USD	1 Quarter
Funds Transfer from Trust Account to Cash for DE Tax Reimbursement	`FundsTranferFromTrust`	$198.93K	USD	Annual
Funds Transfer from Trust Account to Cash for DE Tax Reimbursement	`FundsTranferFromTrust`	$198.93K	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$528.90K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$132.50K	USD	3 Qtrs
Net change in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$528.90K	USD	1 Quarter
Net change in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-304.59K	USD	3 Qtrs
Cash, beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$494.60K	USD	Point-in-time
Cash, beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	-	USD	Point-in-time
Cash, beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$528.90K	USD	Point-in-time
Cash, beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$190.01K	USD	Point-in-time
Cash, end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$494.60K	USD	Point-in-time
Cash, end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	-	USD	Point-in-time
Cash, end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$528.90K	USD	Point-in-time
Cash, end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$190.01K	USD	Point-in-time
Deferred offering costs in accrued offering costs and expenses	`DeferredOfferingCostsInAccruedOfferingCostsAndExpenses`	$23.00K	USD	1 Quarter
Deferred offering costs in accrued offering costs and expenses	`DeferredOfferingCostsInAccruedOfferingCostsAndExpenses`	-	USD	3 Qtrs
Deferred underwriting fee payable	`DeferredUnderwritingFeePayable`	$5.03M	USD	3 Qtrs
Deferred underwriting fee payable	`DeferredUnderwritingFeePayable`	-	USD	1 Quarter
Accretion of common stock to redemption value	`NoncashOrPartNoncashAccretionOfCommonStockToRedemptionValue`	$356.44K	USD	3 Qtrs

Stockholders Equity 22 line items

Line Item	Tag	Value	Unit	Period
Beginning balance, value	`StockholdersEquity`	$-4.56M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	-	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$25.00K	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$-4.43M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$-4.54M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$25.00K	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$-4.60M	USD	Point-in-time
Net income (loss)	`NetIncomeLoss`	$229.54K	USD	3 Qtrs
Net income (loss)	`NetIncomeLoss`	$-171.92K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$64.57K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$336.89K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	-	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	-	USD	Point-in-time
Accretion of common stock to redemption value	`StockRedeemedOrCalledDuringPeriodValue`	$-356.44K	USD	1 Quarter
Issuance of Class B common stock to Sponsor	`StockIssuedDuringPeriodValueNewIssues`	$25.00K	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$-4.56M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	-	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$25.00K	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$-4.43M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$-4.54M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$25.00K	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$-4.60M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.